October 28, 2009 at 18:55 PM EDT
Crude Oil, Copper Lead Broad Decline As Dollar Surges On Safe-Haven Flows
Oil and copper closed down more than 2% on Wednesday while other commodities from gold to grains and sugar also fell as surprisingly weak new-home sales data boosted the dollar on safe-haven flows. The Reuters-Jefferies CRB, a commodities bellwether, fell 2% on concerns about economic recovery, which also sent Wall Street stocks sliding as investors sought safety in the dollar. Weak fundamentals also hit some markets, such as oil, where a
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